Russell Investments Group Ltd. Sells 1,086,452 Shares of IAMGOLD Co. (NYSE:IAG)

Posted by on May 12th, 2023

Russell Investments Group Ltd. lowered its holdings in shares of IAMGOLD Co. (NYSE:IAG – Get Rating) (TSE:IMG) by 17.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,179,116 shares of the mining company’s stock after selling 1,086,452 shares during the quarter. Russell Investments Group Ltd. owned about 1.08% of IAMGOLD worth $13,362,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. JPMorgan Chase & Co. raised its holdings in IAMGOLD by 416.9% during the first quarter. JPMorgan Chase & Co. now owns 2,430,863 shares of the mining company’s stock valued at $8,459,000 after buying an additional 1,960,562 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of IAMGOLD by 94.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,157,764 shares of the mining company’s stock valued at $7,509,000 after acquiring an additional 1,047,461 shares in the last quarter. Sei Investments Co. lifted its holdings in IAMGOLD by 193.8% in the 2nd quarter. Sei Investments Co. now owns 1,570,909 shares of the mining company’s stock worth $2,529,000 after purchasing an additional 1,036,245 shares during the last quarter. National Bank of Canada FI boosted its position in IAMGOLD by 429.2% during the fourth quarter. National Bank of Canada FI now owns 1,222,880 shares of the mining company’s stock worth $3,142,000 after purchasing an additional 991,816 shares during the period. Finally, Royal Bank of Canada grew its holdings in IAMGOLD by 690.3% during the third quarter. Royal Bank of Canada now owns 814,892 shares of the mining company’s stock valued at $871,000 after purchasing an additional 711,778 shares during the last quarter. Institutional investors and hedge funds own 48.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on IAG shares. StockNews.com upgraded shares of IAMGOLD from a “sell” rating to a “hold” rating in a research note on Tuesday, April 25th. Raymond James upped their price target on shares of IAMGOLD from $2.00 to $2.25 and gave the company an “underperform” rating in a report on Tuesday, January 31st. BMO Capital Markets initiated coverage on IAMGOLD in a research report on Monday, May 1st. They set an “outperform” rating and a $3.25 price objective for the company. Finally, National Bank Financial decreased their target price on IAMGOLD from C$4.10 to C$4.00 in a research note on Tuesday, February 14th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, IAMGOLD presently has an average rating of “Hold” and an average price target of $2.89.

IAMGOLD Stock Down 4.2 %

NYSE IAG opened at $3.16 on Friday. IAMGOLD Co. has a twelve month low of $0.92 and a twelve month high of $3.34. The stock has a market cap of $1.52 billion, a PE ratio of -21.07 and a beta of 1.46. The firm has a 50-day simple moving average of $2.75 and a 200 day simple moving average of $2.42. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.04 and a current ratio of 2.35.

IAMGOLD (NYSE:IAG – Get Rating) (TSE:IMG) last announced its quarterly earnings data on Thursday, February 16th. The mining company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). The firm had revenue of $207.20 million during the quarter. IAMGOLD had a negative return on equity of 0.13% and a negative net margin of 5.65%. On average, research analysts forecast that IAMGOLD Co. will post -0.02 EPS for the current year.

About IAMGOLD

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IAMGOLD Corp. engages in the exploration, development and production of gold and mineral resource properties. It owns and operates the Westwood mine in Quebec and the Cote Gold project, a development project located in Ontario. The firm also operates the Rosebel mine in Suriname, the Essakane mine in Burkina Faso, the Saramacca project, an exploration project located in Suriname, the Boto project, an exploration project located in Senegal.

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Institutional Ownership by Quarter for IAMGOLD (NYSE:IAG)

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